Kyle Bass Thinks The Idea Of A 'Solution' To Eurozone Problems Is Ridiculoushttp://www.businessinsider.com/kyle-bass-profligate-idiots-in-southern-europe-2011-11/comments
en-usWed, 31 Dec 1969 19:00:00 -0500Tue, 03 Mar 2015 15:50:35 -0500Gus Lubinhttp://www.businessinsider.com/c/4ecbb6f5eab8ea311600000fxieshuaTue, 22 Nov 2011 09:51:33 -0500http://www.businessinsider.com/c/4ecbb6f5eab8ea311600000f
Taxpayers rescued AIG in 2008 after bets tied to the housing market soured. Its bailout was revised at least four times and swelled to $182.3 billion.
<a href="http://www.your-mortgage-calculator.com/blog" target="_blank">http://www.your-mortgage-calculator.com/blog</a>http://www.businessinsider.com/c/4ecacb34ecad044605000007eBoofMon, 21 Nov 2011 17:05:40 -0500http://www.businessinsider.com/c/4ecacb34ecad044605000007
Bigotry?? To point out the irony of German as head of a church based in Italy and an Italian as head of finance when Germany is the stronger economy. Sorry, I'm trying real hard but can't see the bigotry here.http://www.businessinsider.com/c/4eca3bceeab8ea8a62000004RabbeMon, 21 Nov 2011 06:53:50 -0500http://www.businessinsider.com/c/4eca3bceeab8ea8a62000004
he did...Japan is nowhttp://www.businessinsider.com/c/4eca3565ecad047473000007strats4everMon, 21 Nov 2011 06:26:29 -0500http://www.businessinsider.com/c/4eca3565ecad047473000007
The most important info in this interview is the advice he would give to his mother (@20 min,), Buy "gold and guns". He should have added grub to the list (as was done below 2 months ago):
<a href="http://worldwideponzicollapse.blogspot.com/2011/09/worldwide-ponzi-collapse-stage-2.html" target="_blank">http://worldwideponzicollapse.blogspot.com/2011/09/worldwide-ponzi-collapse-stage-2.html</a>http://www.businessinsider.com/c/4eca2dd0eab8ea7b41000013aleminyeriMon, 21 Nov 2011 05:54:08 -0500http://www.businessinsider.com/c/4eca2dd0eab8ea7b41000013
varmi bişi mişihttp://www.businessinsider.com/c/4ec9f89decad049371000050dimasvilasMon, 21 Nov 2011 02:07:09 -0500http://www.businessinsider.com/c/4ec9f89decad049371000050
another idiot who creates to have the solution for a problem that nor understands.http://www.businessinsider.com/c/4ec9f53c6bb3f7e97900001bis it practical ?Mon, 21 Nov 2011 01:52:44 -0500http://www.businessinsider.com/c/4ec9f53c6bb3f7e97900001b
You can always buy a small farm but who is going to work on it ? You ? What happen when you get older ?http://www.businessinsider.com/c/4ec9dad969bedde32f000003rocksolidtruthMon, 21 Nov 2011 00:00:09 -0500http://www.businessinsider.com/c/4ec9dad969bedde32f000003
Holy Smokes....talk about a Honey Badger interviewer.....doing everything possible to make sure she gets her view imprinted on the world.
Everything is good .....except......He didn't get to finish how it resolves.......What happens in these crises.....always.....is the debt destruction also destroys currency in the process.....so that huge increase in money supply will drop back down in the deflation. As those dollars disappear from books the same way they appeared out of thin air……it evens out in deflation. Now in growth and inflation economies this would be a very big problem….but since we are just sending cash into a black hole inflation never takes off. Each month as homes lose value and assets lose value….currency is destroyed……as fast as it was printed for the last few years…..which is why we don’t have economic inflation……and wage pressures.
What he was trying to say that she wouldn't let him say........that this time we haven’t restructured yet. In 1930 the restructuring began right away. And as Harry Dent has pointed out, also about China and Japan, is that all the last three years have done is prevent the inevitable deflation that has to occur based on what should have happened in 2008. All countries matched the deficit increase in the US with their corresponding currencies. So the entire world Ponzi’d up.
In other words....the plan has failed because the growth did not appear. Yes we avoided a 1929 bank run. Yes we avoided massive writedowns then……but the bubble is still much larger than the 1929 bubble….and we have not restructured. That is why he says we will have the social unrest….because without the growth….
wages will keep falling and we will repeat the exact deflationary scenario from 1933 and 1937 into 1941. It is impossible to escape.
All we did, and all Europe did, was move the deflation date ahead a few years.
Europe unfortunately does not have the tools to recap their banks so they are SOL. The difference is……we had the tools ( I am not saying we should have or it was not moral hazard to do so)….but we had the tools to recap the banks and did it. But….and this is the biggest part……we didn’t restructure the private debt….yet.
We did a horizontal move from private to public……but only enough to prevent the run.
But guess what……we now have to do it all again….only this time it will go straight to the banks……no bailout. We still have to go through our deflation….we still have more private debt to restructure because growth never came back.
Growth in financials has come back….but there is no growth in productive economy and wages……as evidenced by housing.
Bill Gross, Bernanke, Congress, and many others bet that if we recapped the banks that credit would flow and we would be off to the races……and growth would come back. But the private debt was never restructured…so it is still in the system…..and with no wage growth it is impossible to have economic growth.
Deflation and debt writedowns cause austerity and hardship on the people from simple lack of purchasing power and wage growth. It is simple math. And the banks will still have to survive another hit from the foreclosures and private default. And growth will be very small globally so we cannot earn out of it with import export balances.
But, gold and guns won’t help you. A small family farm in the Midwest where there is water and good topsoil is the way to hedge yourself against the incredible deflation that we are about to experience.
It doesn’t matter how low the prices go if you have zero wages and zero savings.
No price other than free fits your budget.
Buy the farm now and get a couple of years of seed and get lots of self-reseeding crop stock. Farmers trade among each other, so all you need is firewood fuel water and a good roof.http://www.businessinsider.com/c/4ec9d8106bb3f76550000006kingsappraiserSun, 20 Nov 2011 23:48:16 -0500http://www.businessinsider.com/c/4ec9d8106bb3f76550000006
Maybe I am reading too much into it but ... there is a similarity in that the Roman Empire was screwed up too before it fell when most of the soldiers in their army were Germans.http://www.businessinsider.com/c/4ec9d61eecad04a037000024NotSocialistSun, 20 Nov 2011 23:39:58 -0500http://www.businessinsider.com/c/4ec9d61eecad04a037000024
I do not think I could be that calm with her. He taught me something today.http://www.businessinsider.com/c/4ec9d41feab8ea1d1600003cpatrick kSun, 20 Nov 2011 23:31:27 -0500http://www.businessinsider.com/c/4ec9d41feab8ea1d1600003c
His composure and restraint with such a hostile host was remarkable.http://www.businessinsider.com/c/4ec9d3d469bedd9a1000001eimdwightgoodenSun, 20 Nov 2011 23:30:12 -0500http://www.businessinsider.com/c/4ec9d3d469bedd9a1000001e
Well said... I wish I had a mil or two liquid to hand to this guy... Instead I'll have to go it alone using the pearls of wisdom that he and other high minded thinkers who I respect- Peter schiff, ray Dalio, Marc Faber, etc- and incorporate that into what fits my time horizons and risk profilehttp://www.businessinsider.com/c/4ec9bfce69beddbb6f000020willien1derlandSun, 20 Nov 2011 22:04:46 -0500http://www.businessinsider.com/c/4ec9bfce69beddbb6f000020
Kyle Bass is simply a genius - no other words describe him accurately - he makes no excuses - his approach is fact based & he understands his area of expertise in ways that few others can appreciate not to mention his uncanny ability to clearly communicate his position. I admire his sense of self & command of his subject to make it actionable...impressive - I did think the BBC host must have been shocked by his ability to correct her when she asserted her position on Japan - I would LOVE to work at Hayman Capital as I believe this is one man that has a true grasp on the current world economic situation..from just the details discussed IMAGINE everything else they must know - MINDBOGGLING!http://www.businessinsider.com/c/4ec9b887ecad043710000015chrislSun, 20 Nov 2011 21:33:43 -0500http://www.businessinsider.com/c/4ec9b887ecad043710000015
I love me some Kyle Bass.
Do you know if he publishes anything? Like a newsletter or something? Some do, but I haven't been able to dig up something like a weekly newsletter. And it would be nice to hear his thoughts.http://www.businessinsider.com/c/4ec9b84ceab8ea0165000042Tony VSun, 20 Nov 2011 21:32:44 -0500http://www.businessinsider.com/c/4ec9b84ceab8ea0165000042
Wisdon? You're joking, right? It takes something other than wisdom to be playing Wall Street Roulette.http://www.businessinsider.com/c/4ec9afd9eab8ea0165000012Floridian FlowerSun, 20 Nov 2011 20:56:41 -0500http://www.businessinsider.com/c/4ec9afd9eab8ea0165000012
Looks like the debt-ridden socialists are trying to blame the capitalists for their problems.http://www.businessinsider.com/c/4ec9ab2569bedde742000034$$ BUCKAROO $$Sun, 20 Nov 2011 20:36:37 -0500http://www.businessinsider.com/c/4ec9ab2569bedde742000034
That was interesting but they haven't created 6 Trillion out of thin air they have created $16 Trillion at least out of thin air going by the last partial audit of the fed, $10 Trillion is quiet a difference.http://www.businessinsider.com/c/4ec9a4fceab8eaa041000045NotSocialistSun, 20 Nov 2011 20:10:20 -0500http://www.businessinsider.com/c/4ec9a4fceab8eaa041000045
Smart man. Stupid b...h and 99% of people who believe assets should only go up, and up ,and up forever to the moon. Thanks god world was designed the correct way.http://www.businessinsider.com/c/4ec9a33d69bedd8b35000023oo la laSun, 20 Nov 2011 20:02:53 -0500http://www.businessinsider.com/c/4ec9a33d69bedd8b35000023
"Good question. I suggest tossing a coin gives you better odds of being right than either of these two imposters."
Make sure the coin is not a euro or it'll be gone before it hits the ground.http://www.businessinsider.com/c/4ec99e586bb3f75154000053Bob CSun, 20 Nov 2011 19:42:00 -0500http://www.businessinsider.com/c/4ec99e586bb3f75154000053
At the bottom of it all is this: It's very difficult for a government to
backtrack from social spending programs. The people go to the streets.
So they keep on spending until the very end, when it all collapses.
The Germans know these countries will soon be back with their hands out.http://www.businessinsider.com/c/4ec999f8eab8ea5e39000017black swanSun, 20 Nov 2011 19:23:20 -0500http://www.businessinsider.com/c/4ec999f8eab8ea5e39000017
I give you my word, that I will post that with complete accuracy, right after it happens.http://www.businessinsider.com/c/4ec996a269bedd9d11000056LONESTARSun, 20 Nov 2011 19:09:06 -0500http://www.businessinsider.com/c/4ec996a269bedd9d11000056
"The trick is in the timimg" Yes, your right, please be sure to post when the correct timimg is going to happen!http://www.businessinsider.com/c/4ec9932eeab8eaae24000063imdwightgoodenSun, 20 Nov 2011 18:54:22 -0500http://www.businessinsider.com/c/4ec9932eeab8eaae24000063
Kyle bass is an imposter? Should we pull him mask off like shaggy and scooby would do? Zoinks!
Btw, Kyle bass dropped a deuce this morning that contained more wisdom than you havehttp://www.businessinsider.com/c/4ec992bdeab8eab12400005dimdwightgoodenSun, 20 Nov 2011 18:52:29 -0500http://www.businessinsider.com/c/4ec992bdeab8eab12400005d
It has more than two as they post your crazy ramblings for some reasonhttp://www.businessinsider.com/c/4ec991b5eab8eab124000057Tony VSun, 20 Nov 2011 18:48:05 -0500http://www.businessinsider.com/c/4ec991b5eab8eab124000057
oOPS was meant as a response to the first poster.http://www.businessinsider.com/c/4ec991506bb3f7d842000036Tony VSun, 20 Nov 2011 18:46:24 -0500http://www.businessinsider.com/c/4ec991506bb3f7d842000036
Good question. I suggest tossing a coin gives you better odds of being right than either of these two imposters.http://www.businessinsider.com/c/4ec9914a6bb3f7023a00004cblack swanSun, 20 Nov 2011 18:46:18 -0500http://www.businessinsider.com/c/4ec9914a6bb3f7023a00004c
Bass believes that the ECB and the Fed have created $6 trillion out of thin air in an inordinately short time. His use of CDS in shorting EU bonds shows that he is putting his money where his mouth is. About six months ago, he also shorted BOJ bonds. He put that money where his mouth was and got it shoved down his throat. Ultimately, the outcome he predicts is correct, but the trick is in the timing.http://www.businessinsider.com/c/4ec990f169bedd9b1800000dTony VSun, 20 Nov 2011 18:44:49 -0500http://www.businessinsider.com/c/4ec990f169bedd9b1800000d
I'm not sure why the demeaning reference to "a German pope" other than perhaps Kyle Bass displaying his bigotry.http://www.businessinsider.com/c/4ec98df769bedd9e18000001Gary AndersonSun, 20 Nov 2011 18:32:07 -0500http://www.businessinsider.com/c/4ec98df769bedd9e18000001
Well, Dwight, at least the site has two views. :)
Here is what I think. The thing is really complex. The banks are at fault for lending the money causing the German boom and the PIIGS debt. The banks should be made to pay but of course they are insolvent. But there should be a restructuring of debt. Does that benefit holders of CDSs? Probably if is determined that it is a credit event.http://www.businessinsider.com/c/4ec9889c69bedd9d11000009Bonner PatrolSun, 20 Nov 2011 18:09:16 -0500http://www.businessinsider.com/c/4ec9889c69bedd9d11000009
I mean slightly late on this one zhedge had it up sometime last week....but better late then never...http://www.businessinsider.com/c/4ec9887aecad04212d000039imdwightgoodenSun, 20 Nov 2011 18:08:42 -0500http://www.businessinsider.com/c/4ec9887aecad04212d000039
Hmm... Kyle bass or Joe Weez... Which one of these two diametrically opposed worldviews would I feel more comfortable finding myself in agreement with?
Long.walk.home.